In the first three parts of this series we looked at some of the changes your business can go through without being required to file for a new Employer Identification Number (EIN). We also looked at what changes would require a new EIN if you operate your business as a Sole Proprietor or a Corporation. Now we will look at some changes that your business can go through that WILL require you to file for a new EIN if you operate your business as a Partnership.
If you are a Partnership, you will need to file for a new EIN if any of the following relate to your business restructuring changes:
- You incorporate.
- Your partnership is taken over by one of the partners and is operated as a sole proprietorship.
- You end an old partnership and begin a new one.
Make sure you are following the guidelines set forth by the IRS with regard to making sure your business changes don't interrupt your business. If you stay on top of this from the start it can save you a lot of time and money trying to correct the problem later.
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